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    GCC Payment Security Market

    ID: MRFR/ICT/62609-HCR
    200 Pages
    Aarti Dhapte
    September 2025

    GCC Payment Security Market Research Report By Authentication Method (Two-Factor Authentication, Biometric Authentication, Tokenization, Password-Based Authentication), By Application (E-Commerce, Banking, Insurance, Healthcare), By Deployment Type (On-Premises, Cloud-Based) and By End Use (Retail, Corporate, Government)-Forecast to 2035

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    Table of Contents

    GCC Payment Security Market Summary

    The GCC Payment Security market is projected to grow from 420.8 USD Million in 2024 to 1051.9 USD Million by 2035.

    Key Market Trends & Highlights

    GCC Payment Security Key Trends and Highlights

    • The GCC Payment Security market is valued at 420.8 USD Million in 2024.
    • By 2035, the market is expected to reach 1051.9 USD Million, indicating robust growth.
    • The compound annual growth rate (CAGR) for the period from 2025 to 2035 is estimated at 8.69 percent.
    • Growing adoption of digital payment methods due to increasing online transactions is a major market driver.

    Market Size & Forecast

    2024 Market Size 420.8 (USD Million)
    2035 Market Size 1051.9 (USD Million)
    CAGR (2025-2035) 8.69%

    Major Players

    Mastercard, CipherTrust, Thales, TokenEx, Kaspersky, Visa, Cymulate, Palo Alto Networks, IBM, Check Point Software, Amaiz, STC Pay, Network International, Faisal Islamic Bank, American Express

    GCC Payment Security Market Trends

    A growing emphasis on digital transactions and the demand for safe payment methods are driving a number of significant developments in the GCC Payment Security Market. Through steps to strengthen cybersecurity frameworks for the financial sector, the regional governments are actively fostering digital transformation. These initiatives are a part of larger national plans to diversify economies, lessen dependency on oil income, and promote an environment that is tech-forward.

    Consequently, companies in GCC nations such as the United Arab Emirates, Saudi Arabia, and Qatar are making significant investments in implementing cutting-edge payment technologies and security protocols. The growing demand for digital wallets and contactless payment methods, especially in the retail and e-commerce industries, presents opportunities to be investigated in this area.

    Due to the GCC's high smartphone penetration rate, customers are turning to mobile-based payment methods. The growing need for rapid and easy transaction experiences, which necessitates stronger security measures, is in line with this trend. Local governments' implementation of legislation also encourages businesses to improve their payment security systems, opening the door for creative fixes. Collaboration between financial institutions and technology companies has increased recently in the GCC Payment Security Market.

    The goal of this collaboration is to develop cutting-edge authentication methods like biometrics and artificial intelligence.Furthermore, the demand for thorough fraud prevention techniques has increased due to the increased awareness of cyber threats. The region's dedication to developing a safe and reliable payment ecosystem is shown by the convergence of these trends, which reflects the goals of the public and private sectors in enhancing consumer confidence.

    GCC Payment Security Market Drivers

    Market Segment Insights

    GCC Payment Security Market Segment Insights

    GCC Payment Security Market Segment Insights

    Payment Security Market Authentication Method Insights

    Payment Security Market Authentication Method Insights

    The Authentication Method segment of the GCC Payment Security Market plays a crucial role in ensuring secure transactions as digital payment systems gain traction in the region. In the context of rapid advancements in technology and increasing incidences of cyber threats, businesses in the GCC region are prioritizing robust authentication methods to safeguard sensitive financial data.

    Among these methods, Two-Factor Authentication is gaining strong acceptance due to its added layer of security, proving effective in reducing the risk of unauthorized access.Biometric Authentication, leveraging unique physical characteristics like fingerprints and facial recognition, has emerged as a leading choice for its convenience and reliability, making it highly appealing in various sectors, including banking and retail, where consumer trust is paramount.

    Tokenization is another significant method that has revolutionized the way sensitive data is protected by replacing it with non-sensitive tokens, thus minimizing the risk during transactions. Password-based authentication remains prevalent, but its effectiveness is often challenged by users' tendencies to create weak passwords and reuse them across multiple platforms.

    Therefore, the growth and adoption of these authentication methods in the GCC Payment Security Market not only enhances transaction security but also aligns with the regional push for digital transformation and stronger regulatory frameworks aimed at protecting consumer interests. Given the dynamic nature of payment ecosystems and an ever-evolving cybersecurity landscape, stakeholders in the GCC are continuously adapting their strategies to incorporate these effective authentication methods, ensuring their relevance and resilience in the face of emerging threats.

    Payment Security Market Application Insights

    Payment Security Market Application Insights

    The Application segment of the GCC Payment Security Market plays a crucial role in enhancing transaction security across various industries, driven by the increasing digitization and online activities in the region. The GCC governments have been actively supporting digital transformation, leading to a notable rise in e-commerce transactions.

    Furthermore, the banking sector, with its vast network and continuous push towards digital banking solutions, underscores the importance of robust payment security measures to protect sensitive financial data.In the insurance industry, the growing reliance on online platforms for policy management and claims processing further emphasizes the need for secure payment protocols to maintain customer trust. Healthcare is also significant, particularly with the rising adoption of telemedicine solutions, which require strong payment security to protect patient information and billing.

    The trends indicate a surge in demand for comprehensive security solutions across these industries, driven by increasing cyber threats and a heightened focus on consumer privacy and data protection.This multi-faceted growth in the Application segment reflects the broader trends in the GCC Payment Security Market, where the adoption of advanced security technologies is becoming imperative to safeguard financial transactions and personal data.

    Payment Security Market Deployment Type Insights

    Payment Security Market Deployment Type Insights

    The Deployment Type segment of the GCC Payment Security Market reveals crucial dynamics influencing the industry. The increasing adoption of digital payment solutions across the Gulf Cooperation Council (GCC) region has prompted a shift towards various deployment models, notably On-Premises and Cloud-Based systems. On-Premises solutions offer organizations enhanced control over data security, which is pivotal in a region where financial Institutions face stringent regulatory requirements.

    Conversely, Cloud-Based deployments are gaining traction due to their scalability, cost-effectiveness, and ability to facilitate rapid deployment.This model aligns well with the rising trend of businesses transitioning to digital environments, driven by government initiatives promoting smart economic diversification in GCC countries.

    The demand for fast and secure payment solutions positions Cloud-Based systems as a significant choice for many small and medium enterprises. Overall, both deployment types play a vital role in shaping the GCC Payment Security Market, reflecting the region's continuous transformation towards digital payment frameworks and the necessity for robust security measures.

    Payment Security Market

    Payment Security Market End-Use Insights

    The GCC Payment Security Market, particularly focused on the end-use segment, reveals essential insights into how businesses and governments are leveraging security systems to protect financial transactions. Within this segment, the Retail sector plays a pivotal role as it adapts to increasing online shopping trends, demanding robust security measures to prevent fraud and enhance customer trust.

    Corporate usage is on the rise, with businesses increasingly prioritizing secure payment solutions to safeguard sensitive financial data against cyber threats.The Government sector is also significant, as authorities implement stringent regulations and compliance measures to secure public transactions and bolster national cybersecurity strategies. The market is witnessing heightened investment in innovative technologies and solutions aimed at combating rising security threats across these diverse sectors.

    The overall market growth is driven by increasing digital payment trends and the necessity for compliance with regulatory frameworks. Understanding the specific needs and challenges faced by Retail, Corporate, and Government entities is crucial, as they each contribute uniquely to the evolving landscape of the GCC Payment Security Market.As payment threats become more sophisticated, the importance of a comprehensive security strategy in these areas cannot be overstated, leading to continual advancements and initiatives in this market.

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    Regional Insights

    Key Players and Competitive Insights

    The GCC Payment Security Market is witnessing dynamic growth, driven by the increasing adoption of digital payment solutions and the rising awareness of security concerns among consumers and businesses. The competitive landscape is characterized by various players striving to establish their foothold by offering advanced security solutions that cater to the unique needs of the region. As the demand for secure payment transactions escalates, companies are focusing on innovation and the development of robust technologies to protect sensitive data and guard against fraud.

    With the expansion of e-commerce, mobile payments, and contactless transactions, the competitive environment is increasingly influenced by regulatory compliance and the need for tailored security measures that specifically address local market requirements.Mastercard has significantly fortified its presence in the GCC Payment Security Market by leveraging its global expertise while tailoring solutions to meet regional demands. The company boasts a strong reputation for providing comprehensive security features, including tokenization, encryption, and advanced fraud detection mechanisms, which enhance the safety of payment transactions.

    Its established partnerships with financial institutions and fintech companies in GCC countries allow Mastercard to expand its reach and serve a variety of customers from individual consumers to large enterprises. Their commitment to innovation is visible through continually evolving technology that ensures robust security, making Mastercard a preferred choice in securing payment systems among stakeholders in the GCC market.CipherTrust plays a significant role in the GCC Payment Security Market, providing a suite of data protection and encryption services tailored to the unique needs of businesses in the region.

    The company specializes in key products such as data encryption solutions, access controls, and compliance tools designed to mitigate risks associated with data breaches and cyber threats. CipherTrust's market presence is reinforced by its strong focus on partnering with local enterprises to address regulatory requirements and enhance their security infrastructures. The company's strengths lie in its ability to deliver custom solutions that cater to the diverse security needs of various sectors, including financial services, healthcare, and retail.

    Recent mergers and acquisitions have further empowered CipherTrust to expand its service capabilities, allowing it to offer more comprehensive security solutions that safeguard payment transactions, thus enhancing its competitive edge in the GCC market.

    Key Companies in the GCC Payment Security Market market include

    Industry Developments

    The GCC Payment Security Market has experienced significant developments recently. The market is witnessing increasing adoption of advanced technologies to enhance transaction security due to a rising number of cybersecurity incidents.

    Amazon Payment Services integrated Tamara, a well-known "buy now, pay later" supplier, in July 2025 to broaden its range of flexible payment options in the GCC. Through this agreement, companies in the UAE and Saudi Arabia may provide their clients with easy, adaptable payment options.

    The DZcard Group, a well-known supplier of smart card solutions and personalization services throughout Asia and Africa, was definitively acquired by TOPPAN Security, a world leader in secure identity and payment solutions, in June 2025. TOPPAN is now a market leader in Asia for payment cards thanks to this calculated acquisition. Visa launched its Intelligent Commerce program in April 2025, allowing developers and engineers to access its payment network. This innovative project intends to alter how customers browse and pay while enabling AI to find and purchase, bringing security and trust to AI-driven commerce.

    Furthermore, Thales has been enhancing its digital security solutions, aligning with the GCC's vision to bolster cybersecurity frameworks amid regional digital transformation efforts. The payment industry in the GCC has been expanding rapidly, with an anticipated growth in market valuation by an estimated 15% in 2024, largely driven by investments in advanced payment technologies and security systems. Additionally, government initiatives promoting digital payment adoption in nations like Saudi Arabia and the UAE are further propelling the market's growth trajectory.

    As a result, companies such as Kaspersky and Palo Alto Networks are also investing in regional partnerships to address the emerging threats in the landscape.

    Market Segmentation

    Payment Security Market End Use Outlook

    • Retail
    • Corporate
    • Government

    Payment Security Market Application Outlook

    • On-Premises
    • Cloud-Based

    Payment Security Market Deployment Type Outlook

    • Retail
    • Corporate
    • Government

    Payment Security Market Authentication Method Outlook

    • E-Commerce
    • Banking
    • Insurance
    • Healthcare

    Report Scope

     

    Report Attribute/Metric Source: Details
    MARKET SIZE 2023 393.5(USD Million)
    MARKET SIZE 2024 420.75(USD Million)
    MARKET SIZE 2035 1051.87(USD Million)
    COMPOUND ANNUAL GROWTH RATE (CAGR) 8.687% (2025 - 2035)
    REPORT COVERAGE Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    BASE YEAR 2024
    MARKET FORECAST PERIOD 2025 - 2035
    HISTORICAL DATA 2019 - 2024
    MARKET FORECAST UNITS USD Million
    KEY COMPANIES PROFILED Mastercard, CipherTrust, Thales, TokenEx, Kaspersky, Visa, Cymulate, Palo Alto Networks, IBM, Check Point Software, Amaiz, STC Pay, Network International, Faisal Islamic Bank, American Express
    SEGMENTS COVERED Authentication Method, Application, Deployment Type, End Use
    KEY MARKET OPPORTUNITIES Digital payment growth, E-commerce expansion, Biometric authentication adoption, Regulatory compliance demands, Cybersecurity investment increase
    KEY MARKET DYNAMICS Fraud prevention measures, Regulatory compliance requirements, Digital payment adoption, Cybersecurity advancements, Consumer awareness growth
    COUNTRIES COVERED GCC

    Market Highlights

    Author
    Aarti Dhapte
    Team Lead - Research

    She holds an experience of about 6+ years in Market Research and Business Consulting, working under the spectrum of Information Communication Technology, Telecommunications and Semiconductor domains. Aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. Her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.

    Get In Touch
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    FAQs

    What is the expected market size of the GCC Payment Security Market in 2024?

    The expected market size of the GCC Payment Security Market in 2024 is 420.75 USD Million.

    What is the forecasted market size of the GCC Payment Security Market by 2035?

    By 2035, the forecasted market size of the GCC Payment Security Market is expected to reach 1051.87 USD Million.

    What is the compound annual growth rate (CAGR) for the GCC Payment Security Market from 2025 to 2035?

    The expected CAGR for the GCC Payment Security Market from 2025 to 2035 is 8.687%.

    Which authentication method has the largest market share in 2024 within the GCC Payment Security Market?

    In 2024, Password-Based Authentication has the largest market share valued at 118.0 USD Million.

    What is the estimated market value for Two-Factor Authentication in 2035?

    The estimated market value for Two-Factor Authentication in 2035 is 278.3 USD Million.

    Who are the key players in the GCC Payment Security Market?

    Key players in the GCC Payment Security Market include Mastercard, CipherTrust, Thales, TokenEx, and Visa.

    What is the market size for Biometric Authentication in 2024?

    The market size for Biometric Authentication in 2024 is valued at 105.5 USD Million.

    What are the growth drivers for the GCC Payment Security Market?

    Growth drivers for the GCC Payment Security Market include increasing digital transactions and rising security concerns.

    What is the market value of Tokenization in 2035?

    The market value of Tokenization in 2035 is estimated to be 205.8 USD Million.

    How has the growth rate of Password-Based Authentication changed from 2024 to 2035?

    Password-Based Authentication is expected to grow from 118.0 USD Million in 2024 to 310.27 USD Million by 2035.

    1. EXECUTIVE
    2. SUMMARY
    3. Market Overview
    4. Key Findings
    5. Market Segmentation
    6. Competitive Landscape
    7. Challenges and Opportunities
    8. Future Outlook
    9. MARKET INTRODUCTION
    10. Definition
    11. Scope of the study
    12. Research Objective
    13. Assumption
    14. Limitations
    15. RESEARCH
    16. METHODOLOGY
    17. Overview
    18. Data
    19. Mining
    20. Secondary Research
    21. Primary
    22. Research
    23. Primary Interviews and Information Gathering
    24. Process
    25. Breakdown of Primary Respondents
    26. Forecasting
    27. Model
    28. Market Size Estimation
    29. Bottom-Up
    30. Approach
    31. Top-Down Approach
    32. Data
    33. Triangulation
    34. Validation
    35. MARKET
    36. DYNAMICS
    37. Overview
    38. Drivers
    39. Restraints
    40. Opportunities
    41. MARKET FACTOR ANALYSIS
    42. Value chain Analysis
    43. Porter's
    44. Five Forces Analysis
    45. Bargaining Power of Suppliers
    46. Bargaining
    47. Power of Buyers
    48. Threat of New Entrants
    49. Threat
    50. of Substitutes
    51. Intensity of Rivalry
    52. COVID-19
    53. Impact Analysis
    54. Market Impact Analysis
    55. Regional
    56. Impact
    57. Opportunity and Threat Analysis
    58. GCC
    59. Payment Security Market, BY Authentication Method (USD Million)
    60. Two-Factor
    61. Authentication
    62. Biometric Authentication
    63. Tokenization
    64. Password-Based
    65. Authentication
    66. GCC Payment
    67. Security Market, BY Application (USD Million)
    68. E-Commerce
    69. Banking
    70. Insurance
    71. Healthcare
    72. GCC
    73. Payment Security Market, BY Deployment Type (USD Million)
    74. On-Premises
    75. Cloud-Based
    76. GCC
    77. Payment Security Market, BY End Use (USD Million)
    78. Retail
    79. Corporate
    80. Government
    81. Competitive Landscape
    82. Overview
    83. Competitive
    84. Analysis
    85. Market share Analysis
    86. Major
    87. Growth Strategy in the Payment Security Market
    88. Competitive
    89. Benchmarking
    90. Leading Players in Terms of Number of Developments
    91. in the Payment Security Market
    92. Key developments and growth
    93. strategies
    94. New Product Launch/Service Deployment
    95. Merger
    96. & Acquisitions
    97. Joint Ventures
    98. Major
    99. Players Financial Matrix
    100. Sales and Operating Income
    101. Major
    102. Players R&D Expenditure. 2023
    103. Company
    104. Profiles
    105. Mastercard
    106. Financial
    107. Overview
    108. Products Offered
    109. Key
    110. Developments
    111. SWOT Analysis
    112. Key
    113. Strategies
    114. CipherTrust
    115. Financial
    116. Overview
    117. Products Offered
    118. Key
    119. Developments
    120. SWOT Analysis
    121. Key
    122. Strategies
    123. Thales
    124. Financial
    125. Overview
    126. Products Offered
    127. Key
    128. Developments
    129. SWOT Analysis
    130. Key
    131. Strategies
    132. TokenEx
    133. Financial
    134. Overview
    135. Products Offered
    136. Key
    137. Developments
    138. SWOT Analysis
    139. Key
    140. Strategies
    141. Kaspersky
    142. Financial
    143. Overview
    144. Products Offered
    145. Key
    146. Developments
    147. SWOT Analysis
    148. Key
    149. Strategies
    150. Visa
    151. Financial
    152. Overview
    153. Products Offered
    154. Key
    155. Developments
    156. SWOT Analysis
    157. Key
    158. Strategies
    159. Cymulate
    160. Financial
    161. Overview
    162. Products Offered
    163. Key
    164. Developments
    165. SWOT Analysis
    166. Key
    167. Strategies
    168. Palo Alto Networks
    169. Financial
    170. Overview
    171. Products Offered
    172. Key
    173. Developments
    174. SWOT Analysis
    175. Key
    176. Strategies
    177. IBM
    178. Financial
    179. Overview
    180. Products Offered
    181. Key
    182. Developments
    183. SWOT Analysis
    184. Key
    185. Strategies
    186. Check Point Software
    187. Financial
    188. Overview
    189. Products Offered
    190. Key
    191. Developments
    192. SWOT Analysis
    193. Key
    194. Strategies
    195. Amaiz
    196. Financial
    197. Overview
    198. Products Offered
    199. Key
    200. Developments
    201. SWOT Analysis
    202. Key
    203. Strategies
    204. STC Pay
    205. Financial
    206. Overview
    207. Products Offered
    208. Key
    209. Developments
    210. SWOT Analysis
    211. Key
    212. Strategies
    213. Network International
    214. Financial
    215. Overview
    216. Products Offered
    217. Key
    218. Developments
    219. SWOT Analysis
    220. Key
    221. Strategies
    222. Faisal Islamic Bank
    223. Financial
    224. Overview
    225. Products Offered
    226. Key
    227. Developments
    228. SWOT Analysis
    229. Key
    230. Strategies
    231. American Express
    232. Financial
    233. Overview
    234. Products Offered
    235. Key
    236. Developments
    237. SWOT Analysis
    238. Key
    239. Strategies
    240. References
    241. Related
    242. Reports
    243. LIST
    244. OF ASSUMPTIONS
    245. GCC Payment Security Market SIZE ESTIMATES
    246. & FORECAST, BY AUTHENTICATION METHOD, 2019-2035 (USD Billions)
    247. GCC
    248. Payment Security Market SIZE ESTIMATES & FORECAST, BY APPLICATION, 2019-2035
    249. (USD Billions)
    250. GCC Payment Security Market SIZE ESTIMATES
    251. & FORECAST, BY DEPLOYMENT TYPE, 2019-2035 (USD Billions)
    252. GCC
    253. Payment Security Market SIZE ESTIMATES & FORECAST, BY END USE, 2019-2035 (USD
    254. Billions)
    255. PRODUCT LAUNCH/PRODUCT DEVELOPMENT/APPROVAL
    256. ACQUISITION/PARTNERSHIP
    257. LIST
    258. Of figures
    259. MARKET SYNOPSIS
    260. GCC
    261. PAYMENT SECURITY MARKET ANALYSIS BY AUTHENTICATION METHOD
    262. GCC
    263. PAYMENT SECURITY MARKET ANALYSIS BY APPLICATION
    264. GCC PAYMENT
    265. SECURITY MARKET ANALYSIS BY DEPLOYMENT TYPE
    266. GCC PAYMENT
    267. SECURITY MARKET ANALYSIS BY END USE
    268. KEY BUYING CRITERIA
    269. OF PAYMENT SECURITY MARKET
    270. RESEARCH PROCESS OF MRFR
    271. DRO
    272. ANALYSIS OF PAYMENT SECURITY MARKET
    273. DRIVERS IMPACT ANALYSIS:
    274. PAYMENT SECURITY MARKET
    275. RESTRAINTS IMPACT ANALYSIS: PAYMENT
    276. SECURITY MARKET
    277. SUPPLY / VALUE CHAIN: PAYMENT SECURITY
    278. MARKET
    279. PAYMENT SECURITY MARKET, BY AUTHENTICATION METHOD,
    280. (% SHARE)
    281. PAYMENT SECURITY MARKET, BY AUTHENTICATION
    282. METHOD, 2019 TO 2035 (USD Billions)
    283. PAYMENT SECURITY
    284. MARKET, BY APPLICATION, 2025 (% SHARE)
    285. PAYMENT SECURITY
    286. MARKET, BY APPLICATION, 2019 TO 2035 (USD Billions)
    287. PAYMENT
    288. SECURITY MARKET, BY DEPLOYMENT TYPE, 2025 (% SHARE)
    289. PAYMENT
    290. SECURITY MARKET, BY DEPLOYMENT TYPE, 2019 TO 2035 (USD Billions)
    291. PAYMENT
    292. SECURITY MARKET, BY END USE, 2025 (% SHARE)
    293. PAYMENT SECURITY
    294. MARKET, BY END USE, 2019 TO 2035 (USD Billions)
    295. BENCHMARKING
    296. OF MAJOR COMPETITORS

    GCC Payment Security Market Segmentation

    • Payment Security Market By Authentication Method (USD Million, 2019-2035)

      • Two-Factor Authentication
      • Biometric Authentication
      • Tokenization
      • Password-Based Authentication

     

    • Payment Security Market By Application (USD Million, 2019-2035)

      • E-Commerce
      • Banking
      • Insurance
      • Healthcare

     

    • Payment Security Market By Deployment Type (USD Million, 2019-2035)

      • On-Premises
      • Cloud-Based

     

    • Payment Security Market By End Use (USD Million, 2019-2035)

      • Retail
      • Corporate
      • Government

     

     

     

     

     

     

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